Superiority. The charges and burdens of this Declaration are, and shall at all times be, prior and therefore superior to the lien or charge of any mortgage or deed of trust hereafter made effecting the Property or Wetlands, or any parts thereof, including any improvements now or hereafter placed thereon, and notwithstanding a foreclosure or other voluntary or involuntary transfer of title pursuant to such instrument, shall remain in full force and effect, but are subordinate to the security interests of record on the Effective Date. Provided, however, that a breach of any of the restrictions hereof shall not defeat or render invalid the lien or charge of any mortgage or deed of trust. The charges and burdens of this Declaration are not intended to either create a lien upon the Property or Wetland, or grant any right of foreclosure, to any person or party.
Appears in 4 contracts
Samples: Homeowner Certification and Agreement to Participate, Homeowner Certification and Agreement to Participate, Grant Agreement
